{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/5ab6fe42bb6ddf45527e077e/654a1d4618fa100012258ecf?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Episode 300 with Joel Bruckenstein | E300","description":"<p>Jason talks to Joel Bruckenstein known as the \"godfather of advisor technology\" in the US. Joel is the President of Technology Tool, a well-known consultant and writer in the financial advisory technology space. Joel is the President of Technology Tool, a well-known consultant and writer in the financial advisory technology space. The episode focuses on Joel's journey and how technology for financial advisors has evolved over time.</p><p><br></p><p>Episode Highlights&nbsp;</p><ul><li>01:26: Joel shares that he spends a significant amount of time consulting, evaluating new products, and engaging with advisors.</li><li>04:13: When Joel began his journey, the wire houses, and many independent broker-dealers (IBDs) predominantly used proprietary technology solutions. Independent advisors had limited options in terms of technology.</li><li>09:41: The cost of financial products, such as mutual funds, was much higher 30 years ago, and ETFs were not yet available.</li><li>11:56: Jason shares a common observation that many outsiders, including technologists and engineers, often believe that technology will replace advisors and reduce their numbers.</li><li>17:14: Jason agrees with Joel's observations and highlights the proliferation of niche solutions that address specific planning issues, which has become more prevalent over the last decade.</li><li>24:16: Joel highlights how smaller advisory firms may outsource their technology needs to specialized providers.</li><li>29:27: Joel suggests that AI can be leveraged for more straightforward tasks, such as generating drafts for blog posts and even assisting with email replies for routine requests.</li><li>34:52: People's satisfaction tends to be higher when they are not aware of alternative solutions or when they have limited exposure to different technology options.</li></ul><p><br></p><p>Discount Code and Links</p><ul><li>Discount code for advisors for $200 : Woodgate200</li><li><a href=\"https://reg.bravuratechnologies.com/events/47000021/ae8c3cd7-475c-2bb7-92f0-2pqr33700143/open\" rel=\"noopener noreferrer\" target=\"_blank\">Registration link</a></li><li><a href=\"https://exhibit-reg.bravuratechnologies.com/exh-welcome?id=34500032\" rel=\"noopener noreferrer\" target=\"_blank\">Sponsorship prospectus link</a></li></ul><p><br></p><p>3 Key Points</p><ol><li>Joel reflects on how the landscape of advisor technology has evolved since he first started in the field.</li><li>Joel and Jason discuss the common complaint among advisors about margin compression and increased competition in the industry due to technological advancements.</li><li>Joel highlights the growing importance of data and AI in the advisory industry. He explains that data is like digital gold and can be leveraged for various purposes, including AI-driven insights and analytics.</li></ol><p><br></p><p>Tweetable Quotes</p><ul><li>“It's essential to remember the technological context of the time when he started, as they were still in the era of DOS, with Windows emerging as a platform.” – Joel</li><li>“Technology has completely transformed the way advisors do business, and he views these changes as positive. It has made advisors more efficient, allowing them to serve more clients and provide a better user experience for both their employees and clients.” – Joel</li><li>“The financial advisory industry often takes longer to adopt technology due to its highly regulated nature.” – Joel</li></ul><p><br></p><p>Resources Mentioned:</p><ul><li><a href=\"https://www.facebook.com/jason.pereira\" rel=\"noopener noreferrer\" target=\"_blank\">Facebook</a>&nbsp;– Jason Pereira's Facebook</li><li><a href=\"https://www.linkedin.com/in/pereirajm?trk=org-employees_mini-profile_title\" rel=\"noopener noreferrer\" target=\"_blank\">LinkedIn</a>&nbsp;– Jason Pereira's LinkedIn</li><li><a href=\"https://www.woodgate.com/#plan-prosper-preserve-financial-planning-toronto\" rel=\"noopener noreferrer\" target=\"_blank\">Woodgate.com</a>&nbsp;– Sponsor</li></ul>","author_name":"Jason Pereira"}